Mullen Group Ltd Just Recorded A Sigfniciant Decline

November 4, 2016November 4, 2016Vivian Park

The stock of Mullen Group Ltd (TSE:MTL) is a huge mover today! About 120,432 shares traded hands. Mullen Group Ltd (TSE:MTL) has risen 26.62% since March 31, 2016 and is uptrending. It has outperformed by 25.53% the S&P500.
The move comes after 6 months negative chart setup for the $1.85 billion company. It was reported on Nov, 4 by Barchart.com. We have $16.47 PT which if reached, will make TSE:MTL worth $148.00 million less.

Mullen Group Ltd (TSE:MTL) Ratings Coverage

Out of 8 analysts covering Mullen Group (TSE:MTL), 3 rate it a “Buy”, 0 “Sell”, while 5 “Hold”. This means 38% are positive. $22.5 is the highest target while $14 is the lowest. The $18.55 average target is 3.63% above today’s ($17.9) stock price. Mullen Group has been the topic of 31 analyst reports since July 23, 2015 according to StockzIntelligence Inc. As per Thursday, October 22, the company rating was maintained by RBC Capital Markets. The rating was maintained by RBC Capital Markets on Friday, July 22 with “Outperform”. The stock has “Sector Performer” rating given by IBC on Thursday, January 14. Raymond James upgraded it to “Market Perform” rating and $20.50 target price in Friday, July 24 report. RBC Capital Markets maintained it with “Sector Perform” rating and $19 target price in Thursday, November 26 report. The firm has “Buy” rating given on Wednesday, October 14 by Cormark Securities. The rating was maintained by Scotia Capital on Thursday, July 23 with “Sector Outperform”. The firm has “Hold” rating by Canaccord Genuity given on Wednesday, October 26. BMO Capital Markets maintained it with “Market Perform” rating and $20 target price in Friday, October 21 report. As per Friday, October 21, the company rating was upgraded by GMP Securities.

More recent Mullen Group Ltd (TSE:MTL) news were published by: Marketwired.com which released: “Mullen Group Ltd. Reports Third Quarter Financial Results and Operating Update” on October 19, 2016. Also Marketwired.com published the news titled: “Mullen Group Ltd. Reports First Quarter Financial Results and Business Update” on April 20, 2016. Marketwired.com‘s news article titled: “Mullen Group Ltd. Announces $100 Million Bought Deal Offering and Concurrent …” with publication date: April 26, 2016 was also an interesting one.

Mullen Group Ltd. is a supplier of trucking and logistics services in Canada. The company has a market cap of $1.85 billion. The Firm provides a range of specialized transportation and related services to the oil and natural gas industry in western Canada. It has a 31.62 P/E ratio. The Firm operates in two divisions: Trucking/Logistics and Oilfield Services.